One wonders what future Presidents will do if the precedent of forgiving debt

the government actually did something to help people, it's pandemonium!

Mortgages, car loans, credit cards. Any promise for a vote, but it would gain traction

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the government actually did something to help people

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It did no such thing. Insulating the irresponsible from their bad decisions does not make them more responsible nor smarter.

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It did no such thing. Insulating the irresponsible from their bad decisions does not make them more responsible nor smarter.

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they're not irresponsible, theyre just trapped in our shite system of higher education in this country and they cant get out.

how old is this board, are you all retires, do any of you have any idea what is going on in the world?

the interest on these loans makes them all but impossible, just type in "student loan stories" and you get page after page of stories like this...

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The good news is that next week I will be officially be Dr. Erin Murphy and I’m presenting my doctoral project in Injury Induced Apoptosis this weekend. Finally, I will be done with school.

The bad news is my total student loan debt is listed at $280,000 and it’s definitely impacting my life.

Currently, my student loan situation is a mess. I pay $400-plus per month in payments and after two years of payment, I’ve only paid $1,000 towards principal towards one of my loans and the rest of the loans keep building interest.

Next year I will start making $800 per-month in additional payments. Even with $1,200 per-month payments, I won’t be able to cover the monthly interest and will never be able to pay the debt off.

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that is not some exception, stories like that are the norm, its not the 60's anymore, our schools cost too fricking much but we're all told we need degrees, so for many the only way to pay for it is this predatory lending.

today doesnt fix all that but it wipes out the debt completely for 20 million people, and helps 43 million at least to some degree. I know you frickers hate the idea of helping one another, and you think life is supposed to be nothing but endless misery, but this is a step in the right direction.

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I know you frickers hate the idea of helping one another

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mind-read much??

I agree and this story hits home to my personal situation, though on a much smaller scale.

Been paying on student loans 15+ years, the balance is higher than what I borrowed and I've only paused payment during Katrina because I lost everything.

Even with that, the balance was never more than a luxury car loan and yet my payments have never made a dent in the principal. So as of today, I owe over twice what I borrowed for a bachelors degree that isn't Liberal Arts or angry woman's studies.

Also as of recent, I decided to say frick it and started pursuing a master's degree where I'll incur more loans. I intend to just keep paying my note till I die which will never come close to paying off what I owe. Death due us part and all that. But hey, I'll die smarter than I was before.

Go back to your 15 posts alter!

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the government actually did something to frick people, it's pandemonium!

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Fify

Getting an entire generation of young people in debt is totally immoral. They are so young at that point they generally just do as they are told. The relentless message is "get educated" and pay off what you borrowed after you enjoy the benefits of the higher salary due to your fantastic degree.
Well, most of those higher wages never appear and the interest by that time has balloned the debt to an outrageous sum.
The debts should be entirely written off....just like Long Term Capital, GM/Chrysler, Real Estate Bubble, etc, etc.
Don't come crying to me about ethics after all the shät that been tolerated in this country over the last 40 yrs.

It’s immoral to not pay your bills. if you are stupid enough to get these lines then maybe don’t go to college or work your way through.